I've always heard that the length of your credit is important. I have a Visa from high school that has a high interest rate, but I keep it open b/c it was my first card, and if I close it, then it will make it appear that I have only had credit for a shorter amount of time. I don't use the card, and if I do I pay it off in full (I actually do this with my other cards too). So I'm not sure how accurate this is, but if it is a card you had for a long time - I would pay it off, and stash it away, but not cancel it. |